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Ibnsina Pharma, Egypt’s fastest-growing and the second-largest pharmaceutical distributor, succeeded in increasing its net revenues by 39% year-on-year (y-o-y) to reach EGP 13.3bn, in 2018, according to the company’s audited results which were announced on Sunday. Ibnsina’s gross profit for the period grew by 36% y-o-y to reach EGP 1.1bn in 2018, yielding a gross …

Ibnsina Pharma, Egypt’s fastest-growing and the second-largest pharmaceutical distributor, succeeded in increasing its net revenues by 39% year-on-year (y-o-y) to reach EGP 13.3bn, in 2018, according to the company’s audited results which were announced on Sunday.

Ibnsina’s gross profit for the period grew by 36% y-o-y to reach EGP 1.1bn in 2018, yielding a gross profit margin of 8.4%. while the company’s operating profit grew 59.4% y-o-y to record EGP 412.7m during the same period.

On quarterly basis, Ibnsina Pharma’s revenues grew 35.5% y-o-y to EGP 3.9bn, while the gross profit stood at EGP 316.5m in the last quarter (Q4) of 2018, growing 38.4% year-on-year and yielding a margin of 8.1%.

Ibnsina’s operating profit grew at a rapid 42.3% y-o-y during the period to record EGP 118.8m, representing an operating profit margin of 3.1%.

While EBITDA recorded a significant 50.5% increased y-o-y to record EGP 167.2m during the quarter, with EBITDA margin standing at 4.3%. Net profit recorded EGP 74.2m in Q4 of 2018, growing at a remarkable 172.8% y-o-y to yield a net profit margin of 1.9%.